Every year as the autumn sets in, millions of shopping enthusiasts hit malls and online shopping sites. Halloween is quickly approaching, with bonfires, games and wearing scary costumes bringing an exciting time, marking the onset of crazy consumerism. This magical celebration is observed every year on 31st of October globally.
Halloween shopping season is considered to be fraudsters’ favorite time, with quantum escalation of fraud incidents reported in the previous year. 2018 will be no exception! If the prediction of sales exceeding $9 Billion this season holds true, organizations will be under constant pressure to ward off fraudsters acting like real-life monsters. With an exponential increase in sales volume, data scams are surely to result in an avalanche of disputes and chargeback. Fraudsters will look for every nook to breach and any means to reach for consumers’ precious data.
Don’t Let Fraudsters Snatch Your Data
Colossal upsurge in sales means higher ROI, but what looks like booming this Halloween is the increased incidents in card-not-present (CNP) and identity theft fraud. Hosting bonfires, giving candies and gifts for trick-or-treat and dressing up in scary costumes, all these exciting elements of Halloween is expected to give a boost to retail sales, projected to advance between 4.3% and 4.8% in 2018.